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Despite $20 Million in Renovations, Oregon Office Property Sells With Deep Discount

Portland's J.K. Gill Building Trades for About $6 Million Less Than 2018 Price
The  J.K. Gill Building at 408 SW Fifth Ave. in Portland, Oregon, was constructed in 1923. (CoStar)
The J.K. Gill Building at 408 SW Fifth Ave. in Portland, Oregon, was constructed in 1923. (CoStar)
By Aaron Tamblyn
CoStar Research
July 18, 2024 | 7:41 P.M.

Even after a multimillion dollar overhaul, a landmark office property in Portland, Oregon, traded for just $3.25 million, nearly $6 million less than its 2018 sales price of $9.85 million.

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